Theme 1 Lesson 1:
Resources Are Scarce

The students examine hypothetical companies that produce various goods made from wood. They discover that some companies do better than others at producing goods that people want to buy. The companies that produce goods that people want to buy at prices high enough for the producer to be profitable will be successful.

Visuals & Activities


  • Capital Resources
  • Entrepreneur
  • Human Resources
  • Natural Resources
  • Resources
  • Scarcity

Standards in Economics and Personal Finance

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